Cruise liners offer last minute deals because
a. The marginal cost is higher than the marginal revenue since fixed costs are sunk
b. The marginal costs of an additional passenger are very low at that point and companies gain by lowering prices
c. The average cost of an additional passenger is very low at that point and companies gain by lowering prices
d. All of the above
b
Economics
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_________________: Want to increase activity in a given area
Fill in the blank(s) with the appropriate word(s).
Economics
Refer to Table 2-5. Does either Estonia or Finland have an absolute advantage and if so, in what product?
A) Estonia has an absolute advantage in lumber. B) Finland has an absolute advantage in both products. C) Finland has an absolute advantage in lumber. D) Estonia has an absolute advantage in cell phones.
Economics